China to Invest US $ 1 billion in IT Sector

China would invest over US dollar one billion in Information Technology sector in Pakistan as sequel to the Memorandum of Understandings signed by President Asif Ali Zardari in his visit to China during the last year.

In line to discuss the modalities and procedures for investment, Ambassador of China in Islamabad Lou Zhaohui met with the Advisor to Prime Minister on Information Technology Latif Khosa here Wednesday.

The friendly country would invest in three sub-sectors of Information Technology for restrengthening the sector.

The Advisor to Prime Minister assured the envoy that all bureaucratic bottlenecks on the way to implement the projects would be overcome. He said that the government is making all out efforts to give impetus to the technology sector with ultimate aim to create more job opportunities for the talented youth of the country.

Khosa was thankful to the Chinese Ambassador who has been taking keen interest to further strengthen the existing bonds between both the brotherly nations of Pakistan and China.

The Ambassador of China also discussed the arrangements for upcoming visit of the Vice Prime Minister and Minister for Information Technology to Pakistan.

The Advisor to PM expressed the hope that the upcoming high profile visit of the Chinese Vice Premier would help take the existing relations of the two nations to new heights.